The firm maintains a conservative capital structure with a 0.20 debt-to-equity ratio, though total equity has eroded from $9.2 million in 2023Q1 to $7.1 million in 2025Q2 due to persistent deficits.
| Total Assets | 9.37M | 8.14M | 10.68M | 10.01M | 11.92M | 16.65M | 12.68M | 13.54M | 1.51M | 1.64M |
| Asset Growth % | 4.48% | -23.84% | 6.72% | -16.01% | -28.41% | 31.33% | -6.38% | 798.63% | -8.37% | - |
| PP&E (Net) | 789K | 1.07M | 756K | 726K | 888K | 1.3M | 1.68M | 1.54M | 1.09M | 1.11M |
| PP&E / Total Assets % | 8.42% | 13.1% | 7.08% | 7.25% | 7.45% | 7.79% | 13.23% | 11.36% | 72.65% | 67.37% |
| Total Current Assets | 8.07M | 6.54M | 9.45M | 8.76M | 10.52M | 15.08M | 11M | 12M | 412.09K | 536.51K |
| Cash & Equivalents | 6.46M | 6.27M | 7.84M | 4.28M | 5.29M | 14.62M | 10.72M | 11.67M | 257.38K | 396.27K |
| Receivables | 125K | 214.99K | 68K | 234K | 6K | 34K | 97.29K | 0 | -62.36K | -48.12K |
| Inventory | 0 | 0 | 3 | 0 | 60.01K | -3.48M | 0 | 0 | 28.69K | 30.91K |
| Other Current Assets | 203K | 0 | 220K | 63K | 5.99K | 3.58M | 88.12K | 270.82K | 127.83K | 109.25K |
| Long-Term Investments | 1.96M | 533.98K | 481K | 527K | 510K | 272K | 70.26K | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 0 | 0 | 0 | 0 | -1K | -70.26K | -1 | 0 | 0 |
| Total Liabilities | 2.46M | 2.65M | 2.38M | 2.21M | 2.04M | 1.91M | 1.9M | 2.2M | 1.63M | 1.73M |
| Total Debt | 1.39M | 1.34M | 1.34M | 1.2M | 1.24M | 1.36M | 1.41M | 1.42M | 1.53M | 1.66M |
| Net Debt | -5.07M | -4.93M | -6.5M | -3.08M | -4.06M | -13.26M | -9.3M | -10.25M | 1.27M | 1.26M |
| Long-Term Debt | 25K | 24K | 47K | 78K | 96K | 1.01M | 1.2M | 1.11M | 13.73M | 1.66M |
| Short-Term Borrowings | 1.16M | 1.31M | 1.1M | 1.04M | 973K | 220K | 0 | 23.02K | 0 | 10.16K |
| Capital Lease Obligations | 639K | 0 | 194K | 87K | 166K | 127K | 219K | 286.77K | 0 | 0 |
| Total Current Liabilities | 2.39M | 2.62M | 2.24M | 2.13M | 1.86M | 903K | 583.07K | 889.01K | 101.8K | 74.47K |
| Accounts Payable | 124K | 130K | 70K | 50K | 75K | 46K | 43K | 517.78K | 10.8K | 35.18K |
| Accrued Expenses | 418.98K | 545.98K | 418.98K | 718K | 505K | 428K | 343K | 224.69K | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10.16K |
| Other Current Liabilities | 0 | 634.98K | 550.02K | 0 | 228K | 82K | 101.07K | 38K | 90.88K | 29.13K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.2M | 0 |
| Total Equity | 6.91M | 5.49M | 8.3M | 7.8M | 9.87M | 14.73M | 10.78M | 11.33M | -123.83K | -85.86K |
| Equity Growth % | -3.71% | -33.89% | 6.4% | -20.99% | -32.98% | 36.72% | -4.93% | 9253.58% | -44.21% | - |
| Shareholders Equity | 7.09M | 5.67M | 8.46M | 7.95M | 9.87M | 14.73M | 10.78M | 11.33M | -756.79K | -611.83K |
| Minority Interest | -178K | -185.99K | -157.99K | -149K | 0 | 0 | 0 | 8.46K | 632.97K | 525.97K |
| Common Stock | 102K | 102K | 102K | 98K | 98K | 98K | 76K | 75.36K | 242 | 255 |
| Additional Paid-in Capital | 25.84M | 25.88M | 25.84M | 23.12M | 23.12M | 23.12M | 15.18M | 15.07M | 2.39M | 1.74M |
| Retained Earnings | -16.95M | -18.77M | -15.07M | -12.99M | -11.28M | -8.38M | -6.04M | -3.77M | -3.15M | -2.34M |
| Accumulated OCI | -1.83M | -1.47M | -2.37M | -2.27M | -2.06M | -103K | 1.58M | -47.63K | -7K | -3.6K |
| Return on Assets (ROA) | -30.68% | -39.5% | -20.08% | -15.6% | -20.31% | -16.01% | -3.24% | -26.49% | -54.13% | -58.58% |
| Return on Equity (ROE) | -40.89% | -53.92% | -25.8% | -19.35% | -23.58% | -18.4% | -3.84% | -35.56% | - | - |
| Debt / Equity | 0.20x | 0.24x | 0.16x | 0.15x | 0.13x | 0.09x | 0.13x | 0.13x | - | - |
| Debt / Assets | 14.8% | 16.45% | 12.57% | 12% | 10.36% | 8.16% | 11.14% | 10.52% | 101.37% | 100.81% |
| Net Debt / EBITDA | 2.35x | - | - | - | - | - | - | - | - | - |
| Book Value per Share | 1.18 | 0.94 | 1.5 | 1.41 | 1.78 | 2.96 | 2.45 | 2.87 | -0.03 | -0.02 |
Pre-commercial execution risk
According to the latest quarterly filings, WAVE's net PPE has remained largely stagnant at approximately $789,000, indicating that the company has not yet transitioned into a phase of meaningful utility-scale infrastructure deployment or significant capital investment in its proprietary wave energy conversion technology.
The lack of growth in net PPE suggests that the company is currently operating in a pilot-heavy environment rather than a capital-intensive utility model. Investors should monitor whether this asset stagnation reflects a strategic pause in hardware deployment or an inability to secure the necessary regulatory approvals to expand its physical footprint.
Based on reported financial statements, the company maintains a minimal debt-to-equity ratio of 0.20, which reflects a highly conservative capital structure that appears to prioritize liquidity preservation over the aggressive debt-funded expansion typically seen in mature, regulated utility entities.
While the low leverage profile provides a buffer against interest rate volatility, it also highlights the absence of a debt-financed growth strategy. This capital structure may indicate that the firm is currently relying on equity-based funding to sustain its operations, which warrants further investigation into potential future dilution risks for shareholders.
As reported in the company's balance sheet data, total equity has declined from $9.2 million in 2023Q1 to $7.1 million in 2025Q2, a trend that appears to be driven by the consistent accumulation of net losses rather than capital returns or dividend distributions.
The steady erosion of equity suggests that the company's current business model is not yet self-sustaining, as it continues to consume its capital base to fund R&D and administrative overhead. Investors should monitor the rate of equity depletion to assess how long the current balance sheet can support the company's existing project pipeline.
Based on the most recent financial disclosures, WAVE holds approximately $7.7 million in cash, which, when compared to the current quarterly burn rate, suggests a finite runway that necessitates either a pivot to commercial revenue or additional capital raises to maintain operational continuity.
The current liquidity position appears adequate for short-term R&D requirements, but the absence of recurring cash flow from operations makes the company vulnerable to external financing conditions. The reliance on cash reserves to fund the balance sheet underscores the speculative nature of the firm's current financial trajectory.
Quick answers to the most common questions about buying WAVE stock.
As of 2025, Eco Wave Power Global AB (publ) (WAVE) had total assets of $8.1M including $6.5M in current assets.
Eco Wave Power Global AB (publ) (WAVE) carries total debt of $1.3M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Eco Wave Power Global AB (publ) (WAVE) has total shareholders' equity (book value) of $5.7M ($0.94 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Eco Wave Power Global AB (publ) (WAVE) reported a current ratio of 2.49x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.